TORONTO, ONTARIO--(Marketwired - March 31, 2014) - NexC Partners Corp. (the "Company") (TSX:NXC) has received approval for a normal course issuer bid to purchase up to 297,463 Class A Shares (the "Shares") of the Company, representing approximately 10% of the public float of 2,974,639 Shares. The Company may purchase up to 59,492 Shares in any 30 day period which is 2% of the 2,974,639 issued and outstanding Shares at March 27, 2014.
The Shares may be purchased for cancellation from April 2, 2014 to April 1, 2015 through the facilities of the Toronto Stock Exchange or other eligible alternative markets and may only be purchased at a price per Share not exceeding the last published net asset value per Share. Purpose Investments Inc., the Manager of the Company, believes that such purchases are in the best interest of the Company and are a desirable use of its available funds.
On March 28, 2013, the Company announced that it was making a normal course issuer bid, which commenced April 2, 2013, to purchase up to 309,288 Shares through the facilities of the TSX or other eligible alternative markets. The Company repurchased 102,600 Shares at a weighted average price of $9.47 per share under the bid, which expires on April 1, 2014.
Purpose Investments Inc. is a Canadian asset management firm committed to enabling all investors to have access to great investment products at reasonable fees. The Class A Shares of the Company are listed for trading on the Toronto Stock Exchange under the symbol NXC.